In 2024, Starbucks CEO Laxman Narasimhan was replaced by Brian Niccol after a year of declining sales and growing pressure from investors and labor unions. Narasimhan's exit follows two quarters of underperformance, with significant struggles in key markets like China. As Starbucks faces rising labor costs and increased competition, the appointment of Niccol, known for his success at Chipotle, has sparked optimism among investors, reflected in a 20% stock surge.
